UK-based operator Sceptre Leisure has acquired the machine assets and operations of RV Smith (Leisure) Ltd, a southern UK based supplier of amusement machines.
The assets being purchased comprise 925 machines in 277 leisure sites. These will be integrated into Sceptre’s existing nationwide depot network, consolidating Sceptre’s market position in the south of England. This acquisition follows on from that of Australian 8 Ball Ltd in December 2009.
The total consideration payable for the assets is £1.2m, to be satisfied by a cash payment of £800,000 from Sceptre’s existing resources and the issue of 1,444,043 new ordinary shares at 27.7p to the vendors.
Ken Turner, CEO of Sceptre, said: "This acquisition further strengthens and consolidates our footprint in southern England. It builds on our national capability and after swift integration with the rest of our network will enable us to improve even further the market leading service we offer our customers."
